JinkoSolar Holding Co., Ltd. (NYSE:JKS) Given Average Rating of “Reduce” by Analysts

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) have been assigned an average recommendation of “Reduce” from the seven ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $31.33.

JKS has been the topic of a number of analyst reports. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Daiwa Capital Markets lowered shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Finally, Jefferies Financial Group raised their target price on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th.

JinkoSolar Price Performance

JKS stock opened at $23.49 on Wednesday. The stock has a 50-day simple moving average of $24.70 and a 200-day simple moving average of $22.51. The firm has a market cap of $1.25 billion, a P/E ratio of 39.81 and a beta of 0.30. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. JinkoSolar has a 1 year low of $16.70 and a 1 year high of $37.36.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Decade Renewable Partners LP acquired a new position in JinkoSolar in the second quarter worth about $4,272,000. Millennium Management LLC lifted its holdings in JinkoSolar by 2,305.1% during the 2nd quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock worth $3,500,000 after buying an additional 161,888 shares during the last quarter. Marshall Wace LLP grew its position in shares of JinkoSolar by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after acquiring an additional 148,268 shares in the last quarter. Point72 Europe London LLP bought a new stake in shares of JinkoSolar in the 2nd quarter valued at approximately $3,023,000. Finally, Dimensional Fund Advisors LP lifted its stake in JinkoSolar by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock worth $20,357,000 after purchasing an additional 74,219 shares during the last quarter. Institutional investors own 35.82% of the company’s stock.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.